JSW Group arm invests $5 mn in personal care products firm Cureskin

JSW Ventures, an arm of Sajjan Jindal-led JSW Group, on Monday said it has led a USD 5-million investment in beauty and personal care products firm Cureskin.

Other investors in the round included Sharrp Ventures, SenseAI and other existing investors, according to an official statement.

The funds raised will be deployed by the start-up for growing its overall customer base, expand into adjacent categories and make further investments in technology, it said.

"The capital will help the company continue scaling its operations, innovate on new products and build a stronger technology solution that will allow the brand to become a category leader," JSW Ventures partner Sachin Tagra said.

The statement said only the top metro cities have a penetration of dermatologists and there is one such specialist looking after skin issues for one lakh people.

Chemists act as a proxy resulting in major challenges related to damaged skin while creating an environment of distrust, it said, adding that Cureskin is addressing these concerns by offering expert-designed personalised regimens.

It has an app that enables users to take photos and instantly get artificial intelligence-based analysis for acne, dark spots, pigmentation, wrinkles and others for free.

Its co-founder and Chief Executive Officer Guna Kakulapati said the company aspires to build India's largest technology-led personal care brand.

"There is a large market need for outcome-oriented, specialist care for skin and hair conditions. We believe that our data and technology-based approach to developing superior products and providing personalised advice will solve this problem," he added.